This week’s macro data provided further evidence that the US economy is beginning to slow from the rapid pace of growth seen in 2023.
Core PCE inflation, the Fed’s favoured measure, came in higher than anticipated at 3.7% in Q1 (consensus 3.4%), and well ahead of the 2% rate in Q4 2023.
In contrast, this week’s Eurozone data suggest some acceleration in growth in the currency bloc.
Turning to the week ahead, the main focus will be on the upcoming Fed monetary policy decision, due after the European close on Wednesday.
